GBP/USD 1.6496 - 16 September 2009
Pound/Dollar made another downward movement on Tuesday as expected, reaching a bottom at 1.6409, closing the day at 1.6485. Of the 1 hour chart the bullish channel was convincingly broken downwards, indicating existence of strong bearish pressure. Signals are bearish in the short term, and neutral in the medium term, and our preferably scenario at the moment is downwards, with possible testing of the 1.6290 support level. The nearest resistance is 1.6655. Break above this level may trigger further bullish momentum. The RSI has crossed down the 100 line on the 1 hour chart, suggesting potential decreasing rebound.
Technical resistance levels: 1.6655 1.6770 1.6900
Technical support levels: 1.6410 1.6290 1.6155
Sell at 1.6496 SL 1.6526 TP 1.6446
Already made +9 pips profit on GBP/USD today from the following signal:
6:44 GMT+1 Sell GBP/USD at 1.6448 SL 1.6474 TP 1.6388 exited at 6:54 GMT
Today so far +136, yesterday +104, as shown at www.zifx.com/performance.php